written and last updated by
Sam Smith at
19 Oct 2023
Journalist, Editorial Department
American casino operator Las Vegas Sands has released its latest financial report for the third quarter of 2023, revealing growth across all metrics for its properties in Macau and Singapore from July to September.
Sands China Ltd in Macau reported an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $631 million (61.4 billion rubles), marking a 16.6% increase compared to the second quarter. The company's net income for the period reached $231 million (22.5 billion rubles), up 23.5%. Sands China's net revenue for the third quarter rose by 9.9% from the previous quarter, totaling $1.78 billion (173.2 billion rubles). The operator manages four properties in Macau: the Venetian, the Parisian, the Londoner, and Sands Macao.
In Singapore, where Las Vegas Sands operates Marina Bay Sands, the report also showed quarter-on-quarter growth. EBITDA increased by 13.7% to $491 million (47.8 billion rubles). Marina Bay Sands' net revenue approached $1 billion (97.3 billion rubles), exceeding the previous quarter's results by 9.7%.
Robert Goldstein, Chairman and CEO of Las Vegas Sands, commented on the company's performance in a press release. "We were pleased to see progress in the recovery of travel and tourism spending in both Macau and Singapore during the quarter. We remain very optimistic about growth opportunities in both markets in the coming years," Goldstein stated.
Overall, Las Vegas Sands reported net revenue of $2.8 billion (272.4 billion rubles), a 10.2% increase from the second quarter of this year. The company's net income stood at $449 million (43.7 billion rubles), surpassing the second quarter's results by 22%.
Meanwhile, Wind Creek has secured $290 million for the construction of a hotel-casino in Illinois.
